• DAILY UPDATES
  • MARKETS
    • Forex
    • CFDs
    • Spot Metals
    • Indices
  • ANALYSIS
    • Fundamental Analysis
    • Technical Analysis
  • ARTICLES
No Result
View All Result
FTD Limited
  • DAILY UPDATES
  • MARKETS
    • Forex
    • CFDs
    • Spot Metals
    • Indices
  • ANALYSIS
    • Fundamental Analysis
    • Technical Analysis
  • ARTICLES
No Result
View All Result
FTD Limited
No Result
View All Result

Nasdaq is Getting Weaker Before the Election

FTD Limited by FTD Limited
October 29, 2020
Reading Time: 2 mins read
A A
Nasdaq is Getting Weaker Before the Election
0
SHARES
36
VIEWS
tweetpostshare

4 days left to the election, 4 of the big five’s earnings reports coming on Thursday and Nasdaq is feeling the pressure. Apple, Amazon, Facebook and Alphabet will reveal their earnings report after close. They have combined $5 trillion market cap and can have a big impact on Nasdaq as well as other major indexes.

11600 is a major resistance level and as long as it holds, downside pressure will likely to continue. Index is getting support around 11200 and because of high earning expectations, we can see a move through 11525, a short term downside channel’s upper band. But because of failed stimulus, election risks and rising covid-19 cases, there is a high chance, 4th quarter earnings might not that good.

If 11200 support fail to hold, downside move can accelerate and this opens up 10950 – 10430 targets.

Percentage of stocks below their 4 week lows in Nasdaq Composite is at %36 level. Excluding Covid-19 February – March fall, there were upside corrections after 4 week lows, fell around %35. But this bullish moves can come after more than few tries %35 support. For example in September it took more than 2 weeks of slightly bearish consolidation to saw an uptrend move. And of course there is a chance of February – March kind of fall which completely ignored this indicator.

As for long term outlook, there is a bullish flag starting from March lows. The consolidation between 10430-12160 likely to continue for some time. But if or when upper band break above, we can see a new long term uptrend forming. Bullish flag chart pattern will be valid as long as lower band holds.

If you are interested in reading more articles like this, you can sign up for FTD Articles newsletter to receive the daily updated into your inbox.

Tags: NasdaqTechnical AnalysisUS ELECTIONS
TweetShareShareSend
Previous Post

The US Senate Has Confirmed Amy Coney Barrett to The Supreme Court

Next Post

Dollar Index Major Break Out

Related Posts

Gold is Testing Major Support 
ANALYSIS

Gold is Testing Major Support 

According to reports in the British press, British Prime Minister Boris Johnson has agreed to leave his post.
DAILY UPDATES

British Prime Minister Boris Johnson is Resigning

Global Markets
DAILY UPDATES

Asian Stocks are on The Rise

West Texas-type crude oil
DAILY UPDATES

Sharp Drop in Oil Prices

British Finance Minister Sunak and Health Minister Javid resigned
DAILY UPDATES

British Finance Minister Sunak and Health Minister Javid Resigned

The Reserve Bank of Australia increased its policy rate by 50 basis points
DAILY UPDATES

The Reserve Bank of Australia Increased Its Policy Rate by 50 Basis Points

Next Post
Dollar index current status

Dollar Index Major Break Out

You might also like

Psychology of trading plays a vital role in one's trading decisions

Trading Psychology

Differences between MT4 and Mt5

MT4 and MT5’s Differences – How to See the Total Lot Sizes in MT5?

Regulated and Licensed Forex Brokerage Company

Regulated Entities

FTD Limited's White Label Program gives you a chance to have your own brand within financial markets.

White Label Solutions

FTD Limited offers Introducing Brokers Program

Introducing Brokers

Algorithmic trading in forex, cfds and indices

Basics of Algorithmic Trading: Concepts and Strategies

Recent Posts

  • Gold is Testing Major Support 
  • British Prime Minister Boris Johnson is Resigning
  • Asian Stocks are on The Rise
  • Sharp Drop in Oil Prices
  • British Finance Minister Sunak and Health Minister Javid Resigned
FTD Limited

The content of the site is presented for informational purposes only not to give any investment advice which mainly focuses on financial instruments such as Forex, Spot Metals, CFDs, and Indices.

MENU

  • DAILY UPDATES
  • MARKETS
  • ANALYSIS
  • ARTICLES

Latest Articles

  • Gold is Testing Major Support 
  • British Prime Minister Boris Johnson is Resigning
  • Asian Stocks are on The Rise

Subscribe to our newsletter and get notified about the next update.

    © 2021 FTD Limited

    FTD Articles is a website prepared by FTD Limited's research team. FTD Limited is an online brokerage company offering products of Forex, Spot Metals and CFDs.

    The ideas and the information shown here have no responsibility of any of the trading decisions made by the investors or the visitors of this site. Therefore, under no circumstances will FTD Limited nor FTD Articles be held responsible or liable in any way for any claims, damages, losses, costs or liabilities resulting or arising directly or indirectly from the use of website content. We recommend that you seek advice if you have not involved with trading before in order to prevent potential risks that may arise.

    No Result
    View All Result
    • DAILY UPDATES
    • MARKETS
      • Forex
      • CFDs
      • Spot Metals
      • Indices
    • ANALYSIS
      • Fundamental Analysis
      • Technical Analysis
    • ARTICLES

    © 2021 FTD Limited

    FTD Articles is a website prepared by FTD Limited's research team. FTD Limited is an online brokerage company offering products of Forex, Spot Metals and CFDs.

    The ideas and the information shown here have no responsibility of any of the trading decisions made by the investors or the visitors of this site. Therefore, under no circumstances will FTD Limited nor FTD Articles be held responsible or liable in any way for any claims, damages, losses, costs or liabilities resulting or arising directly or indirectly from the use of website content. We recommend that you seek advice if you have not involved with trading before in order to prevent potential risks that may arise.

    Welcome Back!

    Login to your account below

    Forgotten Password?

    Retrieve your password

    Please enter your username or email address to reset your password.

    Log In
    This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.